BBS AUG 18
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August 20<strong>18</strong><br />
BANGKOK<br />
FREE<br />
COPY<br />
BUSINESS<br />
TM<br />
SUPPLEMENT<br />
LAND PRICES SOAR IN BANGKOK<br />
Cover Story Overleaf<br />
INSIDE THIS ISSUE:<br />
South East Asia Business Roundup<br />
Commerce Ministry Prepares To Open Up For More Foreign Competition<br />
Thailand Business News<br />
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BUSINESS SUPPLEMENT<br />
Cover Story<br />
LAND PRICES SOAR<br />
IN BANGKOK<br />
According to a report released by the property<br />
consultant firm CBRE, land prices in central<br />
Bangkok have increased by about 1,000 percent<br />
in the 30 years since CBRE established an<br />
office in the Thai capital.<br />
While this is hardly surprising, the pace of<br />
price growth appears to have accelerated since<br />
the turn of the century and this growth has been<br />
especially noticeable since 2015, in the year after<br />
the military launched a coup and ousted the<br />
civilian government.<br />
baht in the early part of 2015. CBRE claims the<br />
average price per square wah is now around<br />
three million baht with no sign of a slowdown.<br />
CBRE notes that the increase in land prices<br />
has not been uniform and there has been<br />
a major change in the development patterns<br />
in Bangkok as a whole. The property consultant<br />
noted that while Bangkok grew during the<br />
1970s and 1980s it did not have a clearly defined<br />
city centre. It is only since the two key<br />
the most popular BTS and MRT lines, although<br />
the land price increases are far from uniform.<br />
With stricter planning and building regulations<br />
land prices can vary quite markedly, even<br />
within the confines of what is now considered<br />
the Bangkok city centre. CBRE states that land<br />
prices are now a much greater proportion of<br />
total development costs than they once were<br />
and these costs have outstripped construction<br />
expenses.<br />
Indeed, a quick look at prices per square<br />
wah in figures released by CBRE shows a fairly<br />
flat line between 1988 and 1992 followed<br />
by modest increases up to the advent of the<br />
1997 Asian Financial Crisis. Yet by 1998 and<br />
into 1999 the price per square wah passed the<br />
500,000 baht mark, showing just how quickly<br />
Thailand was bouncing back from the nadir of<br />
the economic crisis.<br />
The price of a square wah in central Bangkok<br />
passed the magical million baht mark<br />
around 2007 and then went past two million<br />
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public transport developments, the opening of<br />
the BTS (Skytrain) at the end of 1999 and the<br />
underground railway (MRT) in 2004, that central<br />
Bangkok has become more defined.<br />
CBRE states that by about 2025, Bangkok<br />
will have around 460 kilometres of mass transit<br />
lines. By comparison, the London Underground<br />
is 402 kilometres.<br />
The popularity of the mass transit routes<br />
sees around 1.2 million users a day, and this<br />
will rise as more lines are opened. This has<br />
meant great increases in land values near to<br />
Despite the hike in costs, CBRE expects<br />
central Bangkok will remain the preferred location<br />
for the higher end hotels, offices, retail<br />
centres and the like. Of course, the market will<br />
still be governed by affordability.<br />
CBRE suggests a lot of older buildings will<br />
come under the wrecking ball since the value of<br />
the land upon which they sit is so much higher<br />
than the building itself. One prominent example<br />
of this is the Dusit Thani Hotel, where there are<br />
plans to demolish the existing structure and redevelop<br />
the site.<br />
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THAILAND’S<br />
VAT RATE<br />
TO REMAIN AT<br />
7 PERCENT FOR<br />
ANOTHER YEAR<br />
BUSINESS SUPPLEMENT<br />
The cabinet has given the go-ahead for the<br />
value added tax (VAT) rate in Thailand to continue<br />
to be set at 7 per cent for another year,<br />
until the end of September 2019.<br />
It has been at 7 per cent since 1997 and<br />
has been extended at that rate for many years.<br />
Before that, since its introduction in 1992, it<br />
was set at 10 percent. It was cut in 1997 in response<br />
to private sector requests and served<br />
to cushion the blow of the Asian economic crisis<br />
which started in 1997 and which hit the Thai<br />
economy hard in the years following.<br />
The argument for continuing to keep the<br />
rate at 7 per cent now was based on the possibility<br />
of a VAT rate hike impeding the fragile<br />
economic recovery as well as hurting the farm<br />
sector.<br />
Nathporn Chatusripitak, an adviser to the<br />
PM’s Office Minister was quoted as saying,<br />
“The Thai economy is now in an uptrend, while<br />
farm prices are increasing,” adding, “Any VAT<br />
hikes may possibly derail such trends.”<br />
In Asia, Thailand’s VAT rate is quite in keeping<br />
with the general range of VAT rates across<br />
the region. For example Indonesia and the<br />
Philippines both have a 10 per cent VAT rate,<br />
whilst Singapore has a 7 per cent rate, the<br />
same as Thailand.<br />
Japan is slightly higher at 8 per cent, whilst<br />
Taiwan is lower at 5 per cent. Hong Kong and<br />
Macau stand out as having 0% VAT rates.<br />
Many of the Middle Eastern countries including<br />
Saudi Arabia, Oman and the UAE also<br />
have 0% VAT rates, or more simply, no VAT at<br />
all to pay.<br />
Thailand has competitive rates with the<br />
USA also. In the USA, VAT rates, or “sales<br />
tax” rates as they are otherwise known, vary<br />
by state, but are typically between 4.5 per cent<br />
and 7 per cent.<br />
Go west to Europe however, and VAT rates<br />
are almost bearing towards the point where<br />
they are simply taking advantage of citizens.<br />
The UK’s VAT rate has hardly ever gone<br />
down and was already set high when it was<br />
introduced fully in 1979 at 15 per cent. It was<br />
increased in 1991 to 17.5 per cent and then to<br />
20 per cent where it stands currently. The most<br />
likely next move is probably another increase<br />
again!<br />
Europe’s VAT rates are even higher.<br />
Straight away, EU law forces all countries to<br />
ensure VAT is in force at a rate of at least 15<br />
per cent, but most EU countries have much<br />
higher rates. Ireland has a 21 per cent VAT<br />
rate. Several other EU countries have rates of<br />
23 to 25 per cent. Hungary has the highest rate<br />
in the world at 27 per cent.<br />
These sky-high taxes make Thailand’s VAT<br />
rate look positively low in comparison.<br />
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BUSINESS SUPPLEMENT<br />
COMMERCE MINISTRY<br />
PREPARES TO OPEN UP<br />
FOR MORE FOREIGN<br />
COMPETITION<br />
While Thailand obviously welcomes<br />
foreign investment, there<br />
have long been tight restrictions<br />
surrounding a number of business<br />
types which various government’s<br />
have felt needed protection from<br />
potential foreign business competition.<br />
This was largely due to a<br />
belief that the Thai-run businesses<br />
in certain sectors were not sufficiently<br />
robust enough to withstand<br />
foreign-controlled competition.<br />
The government places business<br />
sectors and types into categories<br />
from what they term List 1<br />
down to List 3, and the Commerce<br />
Ministry recently announced plans<br />
to possibly remove five business<br />
categories currently in List 3 from<br />
protection against foreign competition.<br />
the Lawyers Council, as well as<br />
relevant government agencies, in<br />
an effort to assess the long-term<br />
viability of making the changes to<br />
List 3.<br />
According to reports, the majority<br />
of those canvassed were<br />
in favour of making the changes.<br />
This will mean the proposed<br />
changes will be put before the<br />
Cabinet and the Commerce Ministry<br />
expects the final results of their<br />
proposals will be known around<br />
September. If the measures are<br />
passed it will mean foreigners will<br />
be able to invest in these services<br />
without requiring a licence from<br />
the Ministry of Commerce.<br />
List 1 in the FBA are officially<br />
designated as ‘businesses not<br />
permitted for foreigners to operate<br />
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While no firm decision on<br />
these changes had been made at<br />
the time of this publication going to<br />
press, it is expected that the director-general<br />
of the Business Development<br />
Department division of the<br />
Commerce Ministry will announce<br />
that foreign businesses will be<br />
allowed to enter the Thai marketplace<br />
to compete with local firms<br />
in accounting, legal, space rental,<br />
lending, and consulting services.<br />
The plan is to open these five areas<br />
up to encourage further trade<br />
and investment in Thailand.<br />
In order to allow these five sectors<br />
to be opened up, the Foreign<br />
Business Act (FBA) will need to be<br />
officially amended to remove the<br />
five from List 3.<br />
The Commerce Ministry invited<br />
submissions from the Board<br />
of Investment (BoI), the Bank of<br />
Thailand, the Industrial Estate Authority<br />
of Thailand, the Federation<br />
of Accounting Professions and<br />
due to special reasons.’ List 2 activities<br />
are ‘businesses related to<br />
national safety or security, or affecting<br />
arts and culture,<br />
traditional and folk handicraft, or<br />
natural resources and environment.’<br />
Foreign business entities<br />
can only engage in these areas<br />
via approval from the Cabinet.<br />
List 3 states, ‘businesses in<br />
which Thai nationals are not yet<br />
ready to compete with foreigners.’<br />
Foreign companies must apply<br />
for and obtain a foreign business<br />
licence in order to engage in these<br />
sectors.<br />
The FBA limits foreign shareholding<br />
to 49 percent of a business,<br />
and this restriction will remain<br />
in force.<br />
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BUSINESS SUPPLEMENT<br />
5G IS COMING,<br />
BUT WHAT IS IT?<br />
Superfast “fifth generation 5G” mobile<br />
internet could be launched as early<br />
as next year in some countries, promising<br />
download speeds 10 to 20 times<br />
faster that we have now. But what difference<br />
will it really make? Will we need<br />
new phones? And will it solve poor coverage<br />
remote areas?<br />
What is 5G exactly?<br />
It’s the next - fifth- generation of mobile<br />
internet connectivity promising<br />
much faster data download and upload<br />
speeds, wider coverage and more stable<br />
connections. It’s all about making<br />
better use of the radio spectrum and<br />
enabling far more devices to access the<br />
mobile internet at the same time.<br />
What will it enable us to do?<br />
Whatever we do now with our smartphones<br />
will be faster and better/ Consider<br />
smart glasses featuring augmented<br />
reality, mobile virtual reality, much<br />
higher quality video, the internet of<br />
things making cities smarter. But what’s<br />
really exciting is all the new services<br />
that will be built that we can’t yet predict.<br />
Imagine swarms of drones co-operating<br />
to carry out search and rescue<br />
missions, fire assessments and traffic<br />
monitoring, all communicating wirelessly<br />
with each other and ground base stations<br />
over 5G networks. Similarly, many<br />
think 5G will be crucial for autonomous<br />
vehicles to communicate with each other<br />
and read live map and traffic data.<br />
More prosaically, mobile gamers<br />
should notice less delay - or latency -<br />
when pressing a button on a controller<br />
and seeing the effect on screen. Mobile<br />
videos should be near instantaneous<br />
and glitch-free. Video calls should become<br />
clearer and less jerky. Wearable<br />
fitness devices could monitor your<br />
health in real time, alerting doctors as<br />
soon as any emergency arises.<br />
How does it work?<br />
There are a number of new technologies<br />
likely to be applied - but standards<br />
haven’t been hammered out yet for all<br />
5G protocols. Higher-frequency bands<br />
- 3.5GHz (gigaherz) to 26GHz and beyond<br />
- have a lot of capacity but their<br />
lower wavelengths mean their range is<br />
lower - they’re more easily blocked by<br />
physical objects.<br />
Is it very different to 4G?<br />
Yes, it’s a brand new radio technology,<br />
but you might not notice vastly higher<br />
speeds at first because 5G is likely to<br />
be used by network operators initially<br />
as a way to boost capacity on existing<br />
4G (LTE - Long-Term Evolution) networks,<br />
to ensure a more consistent service<br />
for customers. The speed you get<br />
will depend on which spectrum band<br />
the operator runs the 5G technology on<br />
and how much your carrier has invested<br />
in new masts and transmitters.<br />
“Bits n<br />
Bytes”<br />
So how fast could it be?<br />
The fastest current 4G mobile networks<br />
offer about 45Mbps (megabits per second)<br />
on average, although the industry<br />
is still hopeful of achieving 1Gbps<br />
(gigabit per second = 1,000Mbps).<br />
Chipmaker Qualcomm reckons 5G<br />
could achieve browsing and download<br />
speeds about 10 to 20 times faster in<br />
real-world (as opposed to laboratory)<br />
conditions.<br />
This is for 5G networks built alongside<br />
existing 4G LTE networks. Standalone<br />
5G networks, on the other hand,<br />
operating within very high frequencies<br />
(30GHz say) could easily achieve gigbabit-plus<br />
browsing speeds as standard.<br />
But these aren’t likely to come in<br />
until a few years later.<br />
Why do we need it?<br />
The world is going mobile and we’re<br />
consuming more data every year, particularly<br />
as the popularity of video and<br />
music streaming increases. Existing<br />
spectrum bands are becoming congested,<br />
leading to breakdowns in service,<br />
particularly when lots of people in the<br />
same area are trying to access online<br />
mobile services at the same time. 5G<br />
is much better at handling thousands of<br />
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devices simultaneously, from mobiles<br />
to equipment sensors, video cameras<br />
to smart street lights.<br />
When is it coming?<br />
Most countries are unlikely to launch<br />
5G services before 2020, but South<br />
Korea is aiming to get in there first and<br />
launch next year, with its three largest<br />
network operators agreeing to kick off<br />
at the same time. China is also racing<br />
to launch services in 2019.<br />
Will I need a new phone?<br />
The short answer is, yes, afraid so.<br />
Will it work in rural areas?<br />
Lack of signal and low data speeds in<br />
rural areas is a common complaint in<br />
many countries. But 5G won’t necessarily<br />
address this issue as it will operate<br />
on high-frequency bands - to start<br />
with at least - that have a lot of capacity<br />
but cover shorter distances. 5G will primarily<br />
be an urban service for densely<br />
populated areas.<br />
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BUSINESS SUPPLEMENT<br />
When Apple first launched the App Store in mid<br />
July 2008, few of us anticipated how significantly<br />
apps would impact the daily lives of most<br />
people. Initially an expensive luxury item, smartphones<br />
have since become ubiquitous thanks<br />
to a large range of affordable devices catering<br />
for all market segments, driving adoption across<br />
the globe.<br />
Thailand is no exception, with low-cost<br />
models even available in your nearest 7-Eleven<br />
store. In fact Thailand has been a leader in<br />
mobile adoption, recognised as the the no.1 mobile-first<br />
market in the world in Google’s 2015<br />
Consumer Barometer Study.<br />
Over the past decade the App Store has<br />
witnessed 170+ billion downloads, totaling over<br />
$130 billion in global user spend. To celebrate<br />
this 10-year anniversary, leading mobile agency<br />
Appsynth has taken a look at Thailand’s top<br />
apps of all time, and the reasons why these<br />
apps in particular have become staple features<br />
on millions of mobile devices across the Kingdom.<br />
The chart is based on total install volumes<br />
of non-game apps by Thai publishers, compiled<br />
by AppAnnie, the global leader in app analytics<br />
and app market data.<br />
The list represents a diverse split of industry<br />
that provides a lens into modern life: from<br />
the decades-old obsession with TV to the progression<br />
towards a cashless society, through<br />
to retail loyalty and local restaurant discovery,<br />
mobile apps have, and continue to, shape the<br />
way Thais live.<br />
The banking industry occupies five places<br />
on the list, including four of the top six apps.<br />
While one might expect banks to enjoy high<br />
download numbers given their large existing<br />
customer bases, this dominance reflects how<br />
heavily many Thai banks are investing in digital<br />
platforms. Most countries do not see banking<br />
apps dominating install rankings so significantly,<br />
making this a unique characteristic of the Thai<br />
market. As a result, 56% of Thais now report using<br />
mobile banking.<br />
In many global markets, incumbent banks<br />
are losing market share to digital-first challenger<br />
banks and fintech startups seeking to disrupt<br />
banking and financial service industries. For example<br />
alternative mobile payment options such<br />
as preloading money to a digital wallet make it<br />
possible for consumers to cut out the banking<br />
system entirely. Thai banks have done well to<br />
reinforce their positions, providing platforms for<br />
collaboration rather than competition with promising<br />
fintech startups in the form of accelerator<br />
programs, while heavily investing in their own<br />
mobile channels.<br />
As a result of this continued investment,<br />
Kasikornbank and SCB occupy the top 2 spots<br />
on the list.<br />
“Building something that’s specifically designed<br />
for a mobile lifestyle is what really sets<br />
K PLUS apart in this industry. K PLUS’ strategy<br />
is aimed at creating new user experiences<br />
with personalization features where all financial<br />
needs of customers can be fulfilled on a single<br />
device, delivering both functional and emotional<br />
benefits. Making K PLUS relevant to consumers’<br />
daily digital lifestyles is KBank’s commitment,<br />
with more to come in the next year” said Mr<br />
Patchara Samalapa, President of KASIKORN-<br />
BANK.<br />
SCB also sees personalisation as a key element<br />
to achieving high customer satisfaction,<br />
with mobile playing a central role in delivering an<br />
effective omni-channel experience:<br />
“SCB EASY reshapes the landscape of<br />
SCB’s retail banking - breaking down channel<br />
silos and connecting the physical to digital<br />
10 YEARS<br />
OF THE APP<br />
STORE:<br />
THAILAND’S<br />
TOP APPS OF<br />
ALL TIME<br />
experience. SCB EASY’s success is a testament<br />
to the bank’s effort to make the customer<br />
journey personalized and seamless, because<br />
we realize that customers do not think in terms<br />
of channels – rather, we let them consume services<br />
where, when and how they want them”<br />
said Mr Tana Pothikamjorn, first senior vice<br />
president, digital banking division at SCB.<br />
“Alternative banking” is also hot on the heels<br />
of traditional banks. TrueMoney Wallet (in 5th<br />
place) enables its users to make in-store purchases,<br />
scan and pay bills and top up phone<br />
credit, amongst other things. What’s more, you<br />
don’t need a bank account to use the app. True-<br />
Money Wallet can be auto-topped up when connected<br />
to a bank account, or can be manually<br />
topped up with cash – enabling digital money<br />
transactions for the unbanked population.<br />
In 3rd place sits the only app on the list created<br />
by an independent developer, Nattapong<br />
Tonprasert. TV Thailand has unsurprisingly<br />
been a massive hit with users across the nation.<br />
The app provides access to Thai drama series,<br />
cartoons and music videos, enabling Thais to<br />
have their favorite TV shows at their fingertips,<br />
anytime, anywhere.<br />
51% of Thais report watching video on their<br />
smartphone daily and 81% at least once per<br />
week, so it’s no surprise that streaming video<br />
is well represented on the list, with 4 different<br />
apps featured. The ThaiTV3 app, now branded<br />
as Mello, is the only one of these directly published<br />
by a broadcaster. This is sure proof that<br />
you don’t need to be a big brand, or have a massive<br />
budget, to create an app that people love.<br />
From indie developers to tech start-ups,<br />
Wongnai is one of only two mobile-first startups<br />
on the list. Founded in 2010, Wongnai has become<br />
the definitive directory of restaurants in<br />
Thailand, successfully leveraging mobile technology<br />
to deliver a user experience which greatly<br />
exceeded earlier online directories. Of the<br />
secret to their success, CEO Yod Chinsupakul<br />
says:<br />
“The single most important feature of the<br />
app is the ability to immediately locate the ‘Top<br />
Nearby Restaurants’. Our users love this feature,<br />
and applications made this possible.”<br />
The other mobile-first startup in the top 20<br />
is Kaidee. Kaidee is Thailand’s biggest second-hand<br />
online marketplace. Over 50% of<br />
Kaidee’s 30 million monthly visits are through<br />
the app, which ranks 8th on our list. With over 12<br />
million installs reported, Kaidee’s app has been<br />
key to the company’s rapid growth, as Head<br />
Coach Tiwa York points out:<br />
“Since 2013 Kaidee has been developing<br />
with an app-first mentality. It was an investment<br />
for us to learn and understand our customers<br />
needs and be relevant to the audience that was<br />
using the Internet for the first time through their<br />
smartphones. This has resulted in app users being<br />
our most engaged and active customers on<br />
the platform. The success of Kaidee’s app has<br />
been driven by focusing on delivering a great<br />
customer experience for the Thai audience to<br />
buy and sell quickly and easily”.<br />
From online marketplaces to air travel, Nok<br />
Air is the only airline to make the list. The domestic<br />
low-cost carriers cheap pricing and marketing<br />
initiatives targeting varying consumer<br />
segments have made it a preferred choice on<br />
many routes. Their mobile channel is proving<br />
more popular than those of other domestic airlines<br />
and the ease of using the service on the go<br />
has undoubtedly attributed to its success.<br />
Last but not least, this list wouldn’t be complete<br />
without 7-Eleven, the only retailer to make<br />
the list. The market-leading convenience store<br />
has massively ramped up its digital presence in<br />
recent years, including using mobile to digitize<br />
it’s hugely popular stamp loyalty scheme. The<br />
7-Eleven TH app gives users access to special<br />
deals and discounts and the ability to engage<br />
with 7Rewards loyalty campaigns, enabling the<br />
app’s millions of users to earn exclusive merchandise<br />
and rewards. The app’s popularity has<br />
steadily increased in recent years, now ranking<br />
amongst Thailand’s top 5 most popular apps<br />
based on 20<strong>18</strong> install numbers.<br />
Commenting on its study, mobile agency<br />
Appsynth’s Managing Director Robert Gallagher<br />
noted: “With 71% of Thais now using a smartphone,<br />
apps have changed the way Thai people<br />
shop, interact with businesses and engage<br />
with their surroundings. Leading businesses are<br />
treating mobile as a key strategic initiative, as a<br />
best-in-class app can now be a source of competitive<br />
advantage when done right”.<br />
High Tower Co., Ltd. Tel: 038 411 009<br />
For all your advertising enquiries - Tel: 0846 77 43 60
BUSINESS SUPPLEMENT<br />
THAILAND BUSINESS NEWS<br />
THANACHART BANK ANNOUNCES<br />
INCREASED PROFITS.<br />
Thanachart Bank announced a 1.1 per cent quarter-on-quarter<br />
profit increase to 3.82 billion baht.<br />
It is the 14th consecutive quarter of profit growth<br />
for the bank.<br />
There were fears that due to the removal of<br />
digital transaction fees in April 20<strong>18</strong>, the company<br />
would underperform, but net interest income increases<br />
more than made up for any shortfall.<br />
Indeed quarterly net interest income rose to<br />
7.69 billion baht, a 5.49 per cent increase from the<br />
year before.<br />
For the first half year, Thanachart Bank earned<br />
a net profit of 7.6 billion baht, a significant increase<br />
form the 6.6 billion baht for the same period in the<br />
previous year.<br />
CAR SALES EXPECTED TO BE<br />
STRONG ACCORDING TO THE FTI<br />
According to the Federation of Thai Industries<br />
(FTI) the car industry is expected to have a good<br />
period ahead, although the motorcycle market<br />
may lag somewhat.<br />
Spokesman for the FTI’s automotive industry<br />
club, Surapong Paisitpatanapong, was quoted as<br />
saying, “In the domestic market, we think launching<br />
new models can stimulate the market because<br />
retail prices below 800,000 baht per car are very<br />
attractive for motorists to buy new cars. But is still<br />
hard to forecast whether the market this half will<br />
remain bullish,” adding, “The export outlook has<br />
performed better than expected as the country’s<br />
main destination, the Middle East, has resumed<br />
economic growth on rising oil prices.”<br />
Initial expectation is for yearly output to top 2.1<br />
million vehicles, an increase of 100,000 units from<br />
the previous figure of 2 million. For the first half<br />
of the year output stood at 1.057 million units, an<br />
eleven per cent increase on the year before.<br />
In contrast the local motorcycle market contracted<br />
slightly, although full year projections are<br />
expected to show a flat year overall. According<br />
to a registrations report from the Land Transport<br />
Department, registrations for new motorcycles in<br />
the first half stood at 934,747 a reduction of 1.6<br />
per cent.<br />
Mr. Surapong was also quoted as saying, “Motorcycle<br />
buyers are completely different from car<br />
buyers, and many working-class people cannot<br />
afford to buy cheap eco-cars, explaining why the<br />
car market [which attracts another income segment]<br />
has grown while the motorcycle market has<br />
dropped,”<br />
OPPO TARGETS HIGH-END<br />
SMARTPHONE MARKET.<br />
Even though the Thai smartphone market is saturated,<br />
and has been for some time, Oppo is aiming<br />
high with its sights set on the high-end market.<br />
Executive vice-president of Thai Oppo Co.,<br />
Chanon Jirayukul, was quoted as saying, “The<br />
Thai smartphone market in 20<strong>18</strong> will continue to<br />
contract by up to 5% in terms of units,” adding,<br />
“However, it will grow in value by a single-digit rate<br />
as users migrate to higher-priced devices.”<br />
For the first quarter of 20<strong>18</strong>, Oppo ranked second<br />
in the local market. The company will launch<br />
new high-end flagship models with AI enabled<br />
25mp camera technology and a fast charge feature,<br />
which will enable phones to be fully charged<br />
in just half an hour.<br />
Mr. Chanon was also quoted as saying, “We<br />
see opportunity in the high-end smartphone market<br />
that is currently dominated by a few players,”<br />
adding, “Oppo has strong brand recognition after<br />
operating for 10 years in the Thai market.”<br />
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BUSINESS SUPPLEMENT<br />
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For all your advertising enquiries - Tel: 0846 77 43 60
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BUSINESS SUPPLEMENT<br />
FOREIGN CURRENCY UPDATE<br />
The dollar has had rather a flat month with<br />
the DXY Dollar index, (an index that measures<br />
the US Dollar’s value against a number of other<br />
currencies), moving between 95.5 and 94.1 and<br />
settling at 95.37. This consolidation comes after<br />
several months of a strengthening dollar so it<br />
could signal a pause before another leg higher<br />
rather than a reversal. However much depends<br />
on the outlook for U.S. interest rates and with the<br />
benchmark 10 year yield falling back below 2.9%<br />
rates seem to be muted for now. Look out for hints<br />
from the Federal Reserve for the direction of future<br />
rate policy. Against the Thai Baht, the U.S.<br />
Dollar actually advanced fairly significantly from<br />
32.43 to 33.41 indicating weakness in the Thai<br />
baht.<br />
There has been no real respite for those with<br />
a bullish outlook for the British Pound as it stayed<br />
range bound at its recent lows and then resumed<br />
a move even lower again. It just goes to show that<br />
in the currency markets, enough is never enough.<br />
The British Pound moved from 1.3150 against<br />
the U.S. Dollar to 1.3310 before retreating back<br />
to 1.3200 and then down to 1.3024. The move<br />
could be attributed to a possible no-deal Brexit<br />
scenario, as well as senior resignations from the<br />
UK Government surrounding the ongoing Brexit<br />
negotiations. Against the Thai Baht the British<br />
Pound managed to negate its weakness due to<br />
the softer Thai baht, moving from 43.04 to 43.44.<br />
The US Dollar vs. Japanese Yen cross rate was<br />
the big mover rising from 108.80 to 113.05, a<br />
steep climb. Of course the higher the cross rate,<br />
the weaker the Yen so it’s actually a steep descent<br />
for the Japanese currency. This was also against<br />
a flat dollar indicating that the Yen itself was behind<br />
the move. It may also be driving the trend<br />
of other Asian currencies weakening. Against the<br />
Thai Baht, since it weakened also, the net result<br />
was a flat month with the currency moving just<br />
slightly from 0.2934 to 0.2936<br />
Despite one or two dips below 62 to the U.S.<br />
Dollar, the Russian Ruble was largely flat against<br />
its American counterpart. It moved from 63.68 to<br />
63.36 in trade that was choppy but constrained.<br />
The Trump-Putin summit did little to affect the value<br />
of the Russian currency. Against the Thai Baht,<br />
the Ruble was up from 0.5160 to 0.5500 reflecting<br />
Thai baht weakness during the period.<br />
The Euro has suffered a similar fate as the<br />
British Pound of late, consolidating after a significant<br />
sell off during the past few months with little<br />
in the way of a rebound. Attempts to break the<br />
Euro through 1.1750 against the US Dollar failed<br />
and the Euro settled at 1.1616. Whether further<br />
falls are ahead is difficult to tell but the weakness<br />
certainly persists for now judging by the<br />
inability of the Euro to climb meaningfully from<br />
its lows. Against the Thai Baht, the Euro rose<br />
from 37.60 to 38.75 due to Thai baht weakness.<br />
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BUSINESS SUPPLEMENT<br />
WHAT IS HIGH BLOOD PRESSURE?<br />
You probably have high<br />
blood pressure (hypertension)<br />
if your blood pressure readings<br />
are consistently 140 over 90, or<br />
higher, over a number of weeks.<br />
You may also have high<br />
blood pressure if just one of the<br />
numbers is higher than it should<br />
be over a number of weeks.<br />
If you have high blood pressure,<br />
this higher pressure puts<br />
extra strain on your heart and<br />
blood vessels. Over time, this<br />
extra strain increases your risk<br />
of a heart attack or stroke.<br />
High blood pressure can also<br />
cause heart and kidney disease,<br />
and is closely linked to some<br />
forms of dementia.<br />
What are the signs and<br />
symptoms of high blood<br />
pressure?<br />
High blood pressure usually<br />
has no signs or symptoms,<br />
so the only way to know if you<br />
have high blood pressure is to<br />
have yours measured. However,<br />
a single high reading does not<br />
necessarily mean you have high<br />
blood pressure. Many things<br />
can affect your blood pressure<br />
throughout the day, so your doctor<br />
will take a number of blood<br />
pressure readings to see that it<br />
stays high over time. Occasionally<br />
people with very high blood<br />
pressure say they experience<br />
headaches, but it is best to visit<br />
your GP if you are concerned<br />
about symptoms.<br />
What causes high blood<br />
pressure?<br />
For most people, there may be<br />
no single cause for their high<br />
blood pressure. We do not know<br />
exactly what causes high blood<br />
pressure. We do know that your<br />
lifestyle can affect your risk of<br />
developing it. You are at a higher<br />
risk if:<br />
• you eat too much salt<br />
• you don’t eat enough fruit<br />
and vegetables<br />
• you are not active enough<br />
• you are overweight<br />
• you drink too much alcohol<br />
Additional causes of<br />
high blood pressure<br />
There are some factors that<br />
increase your risk of developing<br />
high blood pressure, which you<br />
cannot control. These include:<br />
• Age: as you get older, the<br />
effects of an unhealthy lifestyle<br />
can build up and your blood<br />
pressure can increase.<br />
• Ethnic origin: people from<br />
African-Caribbean and South<br />
Asian communities are at greater<br />
risk than other people of high<br />
blood pressure.<br />
• Family history: you are at<br />
greater risk if other members of<br />
your family have, or have had,<br />
high blood pressure.<br />
Some people may have high<br />
blood pressure that is linked<br />
to another medical condition,<br />
such as kidney problems. For<br />
these people treating the medical<br />
problem may lower their<br />
blood pressure back to normal.<br />
Treatment of high blood<br />
pressure<br />
There is a wide range of<br />
high blood pressure medicines.<br />
You can take more than one<br />
type of medicine because they<br />
each lower your blood pressure<br />
in different ways.<br />
There are four main types<br />
of medicine that doctors use to<br />
treat high blood pressure:<br />
ACE inhibitors: these medicines<br />
help to control hormones<br />
that affect blood pressure.<br />
Most of these medicines have<br />
names that end in “pril”<br />
Angiotensin receptor blockers<br />
(or ARBs): these also control<br />
hormones that affect blood<br />
pressure. Most of these medicines<br />
have names that end in<br />
“artan”<br />
Calcium channel blockers:<br />
these medicines make the artery<br />
walls relax, making them<br />
wider, which lowers blood pressure.<br />
Most of these medicines<br />
have names that in “pine”<br />
Thiazide diuretics: these medicines<br />
remove unwanted fluid<br />
from the body, which helps lower<br />
blood pressure. Most of these<br />
medicines have names that end<br />
in “ide”.<br />
Until recently another type of<br />
drug, called beta-blockers, were<br />
often given to people with high<br />
blood pressure. Beta-blockers<br />
are not usually given as a first<br />
choice because the other types<br />
of blood pressure medicines<br />
appear to be better at reducing<br />
your risk of heart disease and<br />
stroke. However, they may still<br />
be used if you have other health<br />
problems<br />
If you would like any more<br />
information on high blood pressure<br />
or if you would like to make<br />
an appointment to see a cardiologist<br />
regarding high blood pressure<br />
then contact<br />
Phyathai Sriracha Hospital<br />
heart Center on<br />
087 – 1000 – 990<br />
Email:gavin@phyathai.com<br />
www.phyathai-sriracha.com<br />
Gavin Waddell<br />
Phyathai Sriracha Hospital<br />
High Tower Co., Ltd. Tel: 038 411 009<br />
For all your advertising enquiries - Tel: 0846 77 43 60
BUSINESS SUPPLEMENT<br />
JUST THE STATISTICS<br />
While bar charts, line graphs and<br />
simple numbers are hardly capable<br />
of providing the defining answer<br />
to many economic, social<br />
and political questions, they are<br />
certainly a good way of obtaining<br />
a general overview of any particular<br />
subject.<br />
Each month the Business<br />
Supplement will look into a brace<br />
of statistical information and provide<br />
readers with what we consider<br />
to be the central elements<br />
of these figures.<br />
Speeding through the internet<br />
For those who have been a connected<br />
part of the internet since<br />
its humble beginnings more<br />
than two decades ago, today’s<br />
download speeds are a thing of<br />
wonder, especially when performed<br />
on a mobile device. It’s<br />
almost impossible to recall the<br />
days when it could literally take<br />
minutes for a webpage to load;<br />
now, if it takes more than a few<br />
seconds, users get annoyed and<br />
start thinking about changing<br />
providers.<br />
According to statistics presented<br />
by a company called<br />
Speedtest.net, the fastest mobile<br />
download speed in the world<br />
belongs to Norway, at 62.70<br />
Megabits per second (Mbps). In<br />
second and third places are Qatar<br />
and Iceland respectively.<br />
Notably, when it comes to<br />
the fastest fixed-line broadband<br />
download speed, that title is held<br />
by none other than Singapore,<br />
at an amazing 170.99 Mbps.<br />
The world average is just 45.48<br />
Mbps.<br />
As far as download speeds on<br />
mobiles are concerned, the<br />
world average is 23.57 Mbps.<br />
Thailand, sadly, lags well behind<br />
the average, running at<br />
13.93 Mbps, ranking it at 98th<br />
out of 125 countries surveyed by<br />
Speedtest.net.<br />
Among its Asean contemporaries,<br />
Thailand ranks ninth, with<br />
only Indonesia (10.44 Mbps)<br />
worse. No surprise that Singapore<br />
stands at the top of the<br />
Asean pile at 54.96 Mbps, which<br />
is also the fourth-fastest in the<br />
world and then there is a huge<br />
gap to the Asean second place,<br />
held, perhaps amazingly, by<br />
Myanmar at 23.73 Mbps.<br />
Vietnam (20.32) ranks third,<br />
Malaysia (<strong>18</strong>.25) fourth, Cambodia<br />
(15.51) fifth, Brunei (15.20)<br />
sixth, while Laos and the Philippines<br />
(14.05) share equal seventh<br />
position.<br />
By way of further comparison,<br />
the United States only ranks 47th<br />
in the world at 27.76 Mbps, eight<br />
places behind its great trade rival<br />
China (30.45).<br />
Tiny yes, but a super killer<br />
There are around 3,000 species<br />
of mosquito scattered across the<br />
globe and, according to a brace<br />
of sources from the World Health<br />
Organisation (WHO) to the Centers<br />
for Disease Control and Prevention,<br />
these tiny creatures are<br />
responsible for up to 830,000<br />
deaths a year.<br />
Only we humans comes<br />
close, killing around 580,000 of<br />
our fellow homo sapiens over the<br />
course of each 12 months.<br />
There are also approximately<br />
3,000 species of snakes, and<br />
these are responsible for the<br />
demise of 60,000 people a year<br />
while dogs, which number some<br />
nine million animals, cause<br />
around 17,400 deaths per annum,<br />
most via rabies infection.<br />
Scorpions kill some 3,500<br />
people each year, crocodiles<br />
about 1,000, elephants just 100<br />
and bees a mere 60.<br />
Email: ben.hightowerltd@gmail.com<br />
www.Thailand-Business-Supplement.com
TOSCANA’S DESSERTS<br />
All Natural, All Fresh<br />
As might be expected, the dessert menu in Toscana is fairly<br />
extensive and runs the gamut of dishes you would expect to<br />
find in any top quality Italian restaurant.<br />
There are nine or ten flavours of ice<br />
cream, all made from both cow and<br />
goat’s milk, alongside sorbets, profiteroles,<br />
tiramisu, mousses, puddings,<br />
sponges, and the like, making up a long<br />
list of dishes.<br />
It will be no surprise that all the desserts<br />
are made in-house from products<br />
sourced primarily from the Toscana-Moom<br />
Talay natural animal farm<br />
which they run out at Huay Yai.<br />
........................................................................<br />
Although the dessert menu runs<br />
deep, desserts are not considered as<br />
a key feature in the Toscana culinary<br />
landscape. As mine host Luca says, “I<br />
don’t mind if people want to just come<br />
to Toscana and have a cake and a coffee<br />
– or indeed a hamburger, Panini or<br />
fosaccia - and maybe watch the sunset,<br />
that’s fine.” Luca hangs his hat on<br />
the breadth and quality of his starters<br />
and main menu dishes, but also understands<br />
that there will be some customers<br />
who just like the idea of having<br />
something light, say between lunch and<br />
dinner, and can relax and enjoy the<br />
passing parade on Beach Road.<br />
The restaurant has its own pasteurizing<br />
machine and there is no premixed<br />
powder or preservatives used in<br />
their desserts. This is in keeping with<br />
the general theme of Toscana and<br />
Moom Talay of producing food across<br />
the menu spectrum which is as natural<br />
and fresh as possible.<br />
Trattoria Pizzeria Toscana<br />
Moom Talay Thai Restaurant
After 29 years of “making ice creams<br />
and desserts I can tell you the most popular<br />
are tiramisu and profiteroles,” say<br />
Luca. He understands that part of the<br />
reason for the popularity of both these<br />
dishes is that they are usually familiar<br />
to diners, while desserts with more exotic-sounding<br />
names such as Panna Cotta,<br />
Cream Catalana, Fragola and Amarena<br />
are not so well known.<br />
The latter pair (Fragola and Amarena)<br />
are part of a selection of desserts<br />
classified as Semifreddi. These dishes<br />
are a meringue-based cold dish which<br />
consist simply of sugar, milk and cream,<br />
with the flavor (chocolate,strawberry,<br />
etc.) blended into the cream. Simple yet<br />
tasty and filling.<br />
.............................................<br />
As an accompaniment<br />
to a dessert dish,<br />
Toscana also has around<br />
35 different varieties of<br />
grappa with an alcohol<br />
content of anywhere from 38 to 43 percent.<br />
They are blended as smooth as<br />
possible so the alcohol doesn’t burn<br />
your throat.<br />
........................................................................<br />
The restaurant serves liqueurs, including<br />
Irish Coffee (made of course<br />
with Jameson Irish Whiskey).<br />
........................................................................<br />
In keeping with the aim of running a<br />
restaurant which is as friendly and relaxed<br />
as possible, Luca says, “some<br />
customers, when they’ve finished their<br />
main meal, might like to go outside and<br />
have a cigarette or a cigar. We have no<br />
problem with that and they are welcome<br />
to have their coffee or dessert served<br />
outside where they can sit down and enjoy<br />
the evening.”<br />
Trattoria Pizzeria<br />
TOSCANA Restaurant<br />
and<br />
the Moom Talay Thai<br />
Restaurant are located<br />
on Beach Road, Pattaya<br />
(between Soi 6 and Soi 7)<br />
Telephone: 038 362 370<br />
Fax: 038 362 371;<br />
Email: tirreno@ptty2.loxinfo.co.th<br />
For reservations: 081 861 3446
BUSINESS SUPPLEMENT<br />
SUDOKU<br />
These Sudoku puzzles are pitched at a middle level: not too easy,<br />
and not too frustratingly hard, for the average person.<br />
We will publish the solutions in next month’s issue.<br />
CROSSWORD<br />
Last months sudoku answers<br />
TRIVIA Quiz<br />
ACROSS<br />
1/ Amphibians (5)<br />
4/The start of a constrictor (3)<br />
6/Essential (9)<br />
7/Reptile (5)<br />
8/ Male alley cat (3)<br />
10/ Evade, avoid (5)<br />
12/Impertinence (9)<br />
DOWN<br />
1/ Eyeteeth (5)<br />
2/ Grove (7)<br />
3/ Hung (9)<br />
4/ Brag (4)<br />
5/Unfathomable (7)<br />
9/Per square inch init. (3)<br />
11/ Takes an age (3)<br />
1. In what century was Marco Polo most active as a traveller?<br />
2. The <strong>18</strong>84 conference that established zero degrees latitude<br />
was held in what city?<br />
3. Which Middle Eastern capital city lies on the Barada River?<br />
4. What is the smallest independent country by area in South<br />
America?<br />
5. The east coast of Nicaragua is called the what ‘Coast’?<br />
1 2<br />
3<br />
4<br />
5<br />
6. What is, as of 2013, the largest country by area in Africa?<br />
7. Lebanon gained independence from which country in 1943?<br />
6<br />
8. Lake Sevan is the largest lake in which mountainous region<br />
of Europe?<br />
9. The Commander islands are the westernmost islands of<br />
which Pacific archipelago?<br />
10. In 1911 the capital of India moved to Delhi from which city?<br />
7 8<br />
9<br />
10 11<br />
6. Algeria 7. France (Vichy) 8. Caucasus 9. Aleutian Islands 10. Calcutta<br />
1. Thirteenth century (1200s) 2. Washington DC 3. Damascus 4. Suriname 5. Mosquito<br />
Answers<br />
12<br />
CROSSWORD ANSWERS<br />
ACROSS 1/Frogs 4/Boa 6/Necessary 7/Snake 8/Tom 10/Dodge 12/Impudence<br />
DOWN 1/Fangs 2/Orchard 3/Suspended 4/Boast 5/Abysmal 9/psi 11/Eon<br />
For information on the BUSINESS SUPPLEMENT Contact High Tower Co., Ltd. Tel: 038 411 009 - 0846 77 43 60<br />
*The Pattaya & Bangkok Business Supplements are published by High Tower Co., Ltd.<br />
High Tower Co., Ltd. Tel: 038 411 009<br />
For all your advertising enquiries - Tel: 0846 77 43 60
BUSINESS SUPPLEMENT<br />
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BUSINESS SUPPLEMENT<br />
SOUTHEAST ASIAN BUSINESS ROUNDUP<br />
Singapore<br />
Singapore’s Competition and Consumer<br />
Commission (CCCS) announced in<br />
early July that the Grab-Uber merger had<br />
substantially lessened competition, and proposed<br />
to impose financial penalties on both<br />
the ride-hailing transport firms to restore<br />
market contestability. The merger, which was<br />
announced in late March, saw Uber taking a<br />
27.6 percent stake in Grab. The commission<br />
immediately commenced an investigation into<br />
the deal under the Competition Act. “CCCS<br />
has concluded its investigation after obtaining<br />
evidence from the parties and third parties.<br />
CCCS has provisionally found that the transaction<br />
has removed competition between<br />
Grab and Uber, which were each other’s closest<br />
competitor. The merged entity is likely<br />
to be able to increase prices and has in fact<br />
done so since the completion of the transaction,”<br />
said CCCS.<br />
The CCCS has also proposed to impose financial<br />
penalties upon Grab and Uber, as<br />
“CCCS has found that they have carried the<br />
transaction into effect despite having anticipated<br />
potential competition concerns…”<br />
Vietnam<br />
The Japanese company Taisho Pharmaceutical<br />
Holdings has proposed to purchase<br />
an additional 7.06 percent stake in<br />
Vietnam-listed DHG Pharma JSC, lifting its<br />
ownership to 32 percent. Taisho is currently a<br />
major shareholder of DHG with over 32.6 million<br />
shares, equivalent to 24.94 percent of the<br />
company’s charter capital. Taisho, which has<br />
been present in Vietnam through an energy<br />
drink manufacturing plant, is still cementing<br />
its position as DHG Pharma’s second-largest<br />
investor after the State Capital Investment<br />
Corporation (SCIC) with a 43.3 percent interest.<br />
Other shareholders include Vietnam-focused<br />
asset management firms, VinaCapital<br />
and Dragon Capital, Templeton Frontier Markets<br />
Fund and Templeton Emerging Markets<br />
Small Cap Fund.<br />
Myanmar<br />
Among business leaders in Myanmar,<br />
would-be investment from the U.S. and Europe<br />
is known by the wry acronym NATO: ‘No<br />
Action, Talk Only,’ Sean Turnell, special economic<br />
consultant to Myanmar’s leader Aung<br />
San Suu Kyi, said in a recent interview. As<br />
Southeast Asia’s fastest-growing economy<br />
began its transition from military rule with<br />
the swearing in of the first popularly-elected<br />
government in March 2016, western investors<br />
adopted a wait-and-see approach. “The<br />
thing about Western investment is not that it<br />
has stopped flowing, the truth is that it never<br />
came,” Turnell said.<br />
Myanmar has attracted just over US$30 billion<br />
in foreign direct investment since the 2014-15<br />
financial year, with Singapore topping the list<br />
of foreign investors in the country with $14.5<br />
billion, followed by China and Hong Kong with<br />
$7.1 billion, and $2.6 billion from countries inside<br />
the European Union, according to data<br />
supplied by Myanmar’s Directorate of Investment<br />
and Company Administration.<br />
Despite the investment shortfall from the<br />
U.S. and Europe, strong capital inflows from<br />
Japan, China, South Korea and Singapore<br />
helped make Myanmar one of the strongest<br />
performing economies in Southeast Asia,<br />
notching up gross domestic product of 6.4<br />
percent last year and an expected 6.8 percent<br />
in the current financial year.<br />
After Myanmar confirmed that new laws allowing<br />
foreigners to invest up to 35 percent<br />
in local companies would come into effect on<br />
August 1, there is an expectation that more<br />
foreign investment will follow.<br />
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In order to help to pay for the<br />
large amount of investment required<br />
for infrastructure projects,<br />
the cabinet has decided to pass<br />
a draft bill regarding the land<br />
windfall tax. The aim is to capture<br />
some of the inflated property<br />
price movements that occur<br />
when new government infrastructure<br />
projects are announced and<br />
are under construction.<br />
Very large land price increases<br />
were evident when the original<br />
sky train and MRT projects were<br />
constructed, with condo developers<br />
and speculators enjoying<br />
swift profits on parcels of land before<br />
even beginning construction<br />
of condominiums and the like.<br />
Shop houses along BTS routes<br />
also rose in price. Some might<br />
say that this is fair compensation<br />
for the years of disturbance that<br />
occurs during the construction<br />
phase, however the government<br />
is looking to balance the budgets<br />
on some of the government infrastructure<br />
projects and at the<br />
same time create fairness.<br />
million baht and will be charged<br />
every time transfer takes place<br />
during the construction period of<br />
the relevant piece of infrastructure.<br />
Once the construction is<br />
complete there will only be one<br />
final tax levy, and the land windfall<br />
tax will not affect any property<br />
transfer thereafter.<br />
For high-speed trains, double-track<br />
routes and expressways,<br />
the tax is expected to<br />
encompass properties that are<br />
within a 5 km radius of station or<br />
an on-off ramp.<br />
The exact distance to an infrastructure<br />
project is expected<br />
to be announced by a committee<br />
set up under the permanent secretary<br />
of the Finanace Ministry.<br />
It is clear that some rail projects<br />
have stations that are much<br />
closer together than others. For<br />
example, high speed trains will<br />
likely only have a few stations<br />
over a one hundred kilometer<br />
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typically have stations every 1.5<br />
km, or at an even lesser distance<br />
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BUSINESS SUPPLEMENT<br />
TRUE DIGITAL PARK . .<br />
THAILAND’S FIRST GLOBAL<br />
DESTINATION FOR A FULLY<br />
DIGITAL LIFESTYLE<br />
Many throughout the region heard of True Digital<br />
Park after True Group officially announced the development<br />
of this mega-project, the largest digital<br />
innovation hub in Southeast Asia. The project is now<br />
80% complete, and many global partners, including<br />
the world’s largest tech companies, entrepreneurs<br />
and startups will make use of this pioneering digital<br />
hub to establish their offices and digital innovation<br />
spaces. For example, Google recently announced<br />
they will be setting up the “Academy Bangkok – A<br />
Google Space” at True Digital Park which is set to<br />
open later this year.<br />
An increasing number of people need a suitable<br />
space that meets their demanding lifestyles in the<br />
digital era, both in terms of work and daily life. Mr.<br />
Thanasorn Jaidee, President of True Digital Park,<br />
said “True Digital Park is located in an easily accessible<br />
location at Sukhumvit 101, adjacent to Punnawithi<br />
BTS station. The park will become the largest<br />
digital innovation hub in Southeast Asia and a global<br />
destination for digital lifestyles. It stands out with<br />
three key elements: Technology, People and Space,<br />
which lie at the heart of creating an entire ecosystem<br />
of start-ups to drive innovation and creativity in<br />
Thailand and Southeast Asia. Our core concept is to<br />
provide connectivity to the ecosystem and a space<br />
that fully supports the lifestyles of people in digital<br />
era. With construction now over 80% complete, we<br />
can confirm our readiness for an opening in November<br />
20<strong>18</strong>.”<br />
Here’s a sneak peek of the highlights of True Digital<br />
Park, where the concept of “Digital Lifestyle-Connecting<br />
Possibilities” will soon come to life.<br />
True Digital Park aims to build an all-in-one ecosystem<br />
and community which includes three elements<br />
to fulfill the digital lifestyles needs and ability<br />
to live smart. The first element is Technology: This<br />
project designed and installed an advanced telecommunications<br />
system with the best high-speed internet<br />
in the country that can be connected from all areas<br />
in the park. Smart IoT Solutions are available to preview<br />
and assign work via smartphones supporting<br />
real mobility in terms of work and daily life together<br />
with Smart Parking which shows vacant spots and<br />
parking availability/capacity through an application;<br />
Smart Lighting which monitors energy consumption<br />
providing improved efficiency; and a Smart Meeting<br />
Room that allows you to easily book rooms in advance.<br />
In addition, robots are used to provide additional<br />
conveniences such as an internal delivery<br />
service.<br />
The second element is People: True Digital Park<br />
fulfills digital lifestyles in every dimension for those<br />
who use the park for work, from start-ups, entrepreneurs,<br />
investors, academics, incubators, and state<br />
agencies. Everyone can connect with each other.<br />
Collaboration Areas are available to support digital<br />
innovations and to exchange ideas. Everyone can<br />
take part by supporting and inspiring one another<br />
when they visit True Digital Park.<br />
The last element is Space: True Digital Park understands<br />
both the nature and the needs of start-ups<br />
and the significance of collaboration. The Park was<br />
therefore designed as an open space that offers connections<br />
for people to meet up and exchange ideas.<br />
Every zone and level has a Collaboration Area which<br />
serve as co-working spaces, such as meeting and<br />
leisure rooms, and spaces to organize events and<br />
workshops.<br />
True Digital Park is a fully-equipped, state-of-theart<br />
facility that perfectly supports all kinds of work and<br />
lifestyles in the digital era. The zones in True Digital<br />
Park include:<br />
The Campus Lobby. Located on level 6, this hospitality<br />
community zone is served by a central counter<br />
that provides information and assistance, and<br />
overlooks the spiral staircase which links to level 5<br />
and level 7.<br />
The Collaboration Area. This open space offers<br />
a cozy atmosphere where the public can linger before<br />
entering the private offices. People can work on<br />
their laptops or even have informal meetings. Wi-Fi<br />
is available, and the area by the stairwell can be converted<br />
into a space for Town Halls, with a capacity of<br />
70-80 people.<br />
The Pantry Area. This central zone is a place for<br />
recreational activities to take a break or just chill out<br />
with coffee machines in every pantry area and even<br />
baristas on some levels to get you your caffeine fix.<br />
The Private Meeting room. Perfect for official<br />
meetings and to hash out ideas, the rooms can easily<br />
be booked via the application.<br />
The Campus Space. This unique space serves<br />
as an extension to start-ups providing the necessary<br />
support as they grow and eventually require their own<br />
private office instead of a co-working space, while<br />
still being able to use all of the central area facilities.<br />
The two-level Auditorium can facilitate large<br />
events and gatherings offering 500-seat capacity<br />
along with an unbeatable lighting and audio-visual<br />
system.<br />
Hillside Town/24-Hour Street. This zone offers<br />
popular shops, restaurants and a full array of services.<br />
There are also 24-hour shops providing convenience<br />
to customers around the clock.<br />
True Digital Park will satisfy everyday digital lifestyles<br />
by providing an entirely new experience in late<br />
20<strong>18</strong>. Follow news and updates on activities and<br />
networking event for start-ups and entrepreneurs at<br />
www.facebook.com/TrueDigitalPark/<br />
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